July CPI Cools, Easing Pressure on Fed to Hike Again
The July CPI report showed a slight cooling in inflation, strengthening expectations that the Federal Reserve may hold off on another rate increase.
Each month, the Bureau of Labor Statistics releases CPI data, which policymakers and economists use to assess the inflation environment. The July report indicated some moderation in price pressures.
The softer CPI reading has fueled expectations that the Federal Reserve will refrain from raising interest rates in the near term.
Source: FXStreet Forex News